In an age dominated by viral content and digital persuasion, FOMO Finance: A Survival Guide to the New World of Viral Investing offers a timely and critical resource for India’s youngest investors. Authored by Jayant Agarwal—a Bachelor of Commerce (Hons.) student and CFA Programme candidate—the book dives deep into the rising influence of social media on Gen Z’s investment decisions.
Hailing from Bhubaneswar and currently studying in Kolkata, Agarwal brings both academic rigor and personal perspective to the subject. Having lost his mother at a young age, he underwent mental struggles that later shaped his empathetic and thoughtful approach toward finance. His interest in behavioral finance and digital influence culminated in the 2025 SSRN-published research paper, “FOMO in Finance: How Finfluencers Reshape Investment Decisions of Gen Z in India,” which laid the foundation for this book.
At its core, FOMO Finance highlights the dangers lurking in the democratized world of investing—where access to markets has grown exponentially but understanding and regulation have not kept pace. Between 2020 and 2024, India’s dematerialized (demat) accounts skyrocketed from 39 million to over 185 million, ushering in a wave of young investors. This demographic, Agarwal argues, is particularly vulnerable to the psychological traps set by unregulated financial influencers, or “finfluencers.”
The book is structured around several key themes:
The Gen Z Paradox
Agarwal identifies a troubling contradiction. Despite valuing long-term financial security, a large segment of Gen Z indulges in high-risk equity investments. Citing studies, the book notes that while 46% of Gen Z claim to prioritize safety, 72% of those aged 18-21 prefer speculative direct equity trades—a classic “intention-behavior gap.”
The Rise of Unregulated Finfluencers
The book exposes the alarming reality that only 2% of India’s finfluencers are registered with SEBI, as per a CFA Institute study. In the absence of credentials, these influencers still command massive trust and authority—often surpassing certified financial advisors.
The Psychology of Manipulation
Agarwal meticulously dissects how influencers use tactics like FOMO (Fear of Missing Out), herding behavior, and psychological framing to push their narratives. The book draws from behavioral economics, including Prospect Theory, to explain how risk is minimized in messaging while gains are exaggerated.
Case Studies of Financial Disaster
Adding weight to theory, FOMO Finance presents real-life case studies. These include the Sadhna Broadcast pump-and-dump scam, the Brightcom Group accounting scandal, and overhyped IPOs like Gensol Engineering and Resourceful Automobile. These stories reveal how ordinary investors lost life savings due to viral misinformation.
A Toolkit for Financial Self-Defense
Unlike many academic works, FOMO Finance is practical at heart. Each chapter includes “Survival Guides” with actionable advice—such as implementing a 24-hour pause before acting on investment tips and tools to assess a finfluencer’s credibility. The book also outlines SEBI’s recent moves to clamp down on unregulated financial content, giving readers the means to protect themselves.
At a time when financial literacy struggles to keep up with digital noise, Jayant Agarwal calls for a shift from blind following to informed investing. He advocates for what he terms “JOMO”—the Joy of Missing Out—encouraging readers to resist the hype and embrace thoughtful, long-term strategies.
Through FOMO Finance, Agarwal emerges as a compelling voice for financial responsibility among India’s youth, offering both a diagnosis and a cure for one of the most pressing challenges of modern investing.
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